Thomas Lamson Ludington

Chemical Bank & Trust checking & savings — Interest

Dow Chemical Employees Credit Union — Interest

TD Ameritrade Money Market (Y)

Merrill Lynch Money Market — Interest

Amgen stock — Dividend

Laboratory CP American Hldg — None

Blackrock Global Stock Fund — Dividend

IBM stock — Dividend

Quest Diagnostics stock — Dividend

Interest Income Fund 401K — Int./Div.

Vanguard Convertible See 401K — Int./Div.

Am Cent US Real Estate 401K — None

Fidelity Contrafund Pool Cl 2 401K — None

SSga Stable Value-State of Michigan 457 Plan — None — Sold

PIMCO Total Return-State of Michigan 457 — None — Sold

Dodge & Cox Stock State of Michigan 457 Plan — None — Sold

SSga Stable Value State of Michigan 401K Plan — None — Sold

SSgaCash Series Treasury State of MI 401K — None — Sold

PIMCO Total Return State of MI 401K — None — Sold

Dodge & Cox Stock-St of MI 401K — None — Sold

Ridge Worth Funds-St of MI 401K — None — Sold

American Funds Europacific Gr-St of MI 401K — None — Sold

Artisan Mid Cap-St of MI 401K — None — Sold

TRP Is Mid Cap 401K — Int./Div.

Vanguard Dev Mkt IndexIP 401K — Int./Div.

MTL Insurance Co (ordinary) Life Policy — None

Trust Mark (ordinary) Life Policy — None

Indianapolis (ordinary) Life Policy — None

Fidelity Roth IRA #1 (H) — Interest

Apple Inc stock — None — Sold

Plains All American Pipeline stock — None — Sold

AER Cap Holdings stock — None — Sold

AMG TimesSquare Intl Small Cap — None — Sold

Vanguard Consumer Dis ETF — None — Sold

Gastonia, NC Bond 4/1/2020 — None — Sold

New Hampshire Bond 9/1/21 — None — Sold

Palm Beach, FL Bond 11/1/22 — None — Sold

Goldman Sachs CD 12/10/19 — None — Sold

DFA Emerging Markets Core Equities Fund — Dividend — Buy

DFA Emerging Markets Core Equities Fund — None — Buy (add'l)

Janus Henderson Global Income Fund — Dividend — Buy

Janus Henderson Global Income Fund — Distribution — Buy (add'l)

Matthews Emerging Asia Fund — Distribution — Buy

Matthews Emerging Asia Fund — None — Buy (add'l)

Matthews Emerging Asia Fund — None — Buy (add'l)

PrimeCap Odyssey Growth Fund — Dividend — Buy

PrimeCap Odyssey Growth Fund — Distribution — Buy (add'l)

DFA International Value Fund — Dividend — Buy

New Perspective Fund — Dividend — Buy

Fidelity IRA #1 Rollover (H) — None — Distributed (part)

Johnson & Johnson stock — None — Sold

MFS Intl New Discovery A Fund — None — Sold

T Price Media & Tele Fund — None — Sold

Magellan Midstream Partners stock — None — Sold

SPDR Utilities ETF — None — Sold

Old Dominion Freight Line stock — None — Sold

American Century Intl Opportunity Fund — None — Sold

Fidelity Cycl Indust Fund — None — Sold

Vanguard S&P 500 ETF — None — Sold

Invesco Sm Cap Health ETF — None — Sold

Sherwin Williams Co stock — None — Sold

Snap-On Inc stock — None — Sold

Vanguard Spc Health Fund — None — Sold

Prologis stock — None — Sold

Avalon Bay Communities stock — None — Sold

Thrivent Mid Cap stock — None — Sold

AMG TimesSquare Intl SmCap Fund — None — Sold

AQR Global Equity Fund — Dividend — Buy

AQR Global Equity Fund — None — Buy (add'l)

Blackrock Strategic Income Fund — Dividend — Buy

Blackrock Strategic Income Fund — Distribution — Buy (add'l)

Blackrock Strategic Income Fund — None — Buy (add'l)

Blackrock Strategic Income Fund — None — Buy (add'l)

Carillon Reams Unconstrained Bond Fund — Dividend — Buy

Carillon Reams Unconstrained Bond Fund — None — Buy (add'l)

Carillon Reams Unconstrained Bond Fund — None — Buy (add'l)

DFA Intl Small Cap Value Fund — Dividend — Buy

DFA Intl Small Cap Value Fund — Distribution — Buy (add'l)

DFA International Value Fund — Dividend — Buy

DFA International Value Fund — None — Buy (add'l)

DFA U.S. Large Cap Growth Port Fund — Dividend — Buy

DFA U.S. Large Cap Growth Port Fund — Distribution — Buy (add'l)

DFA U.S. Large Cap Growth Port Fund — None — Sold (part)

DFA US Large Cap Value Fund — Dividend — Buy

Doubleline Total Return Bond Fund — Dividend — Buy

Doubleline Total Return Bond Fund — None — Buy (add'l)

Doubleline Total Return Bond Fund — None — Buy (add'l)

Doubleline Total Return Bond Fund — None — Buy (add'l)

Johcm International Select Fund — Dividend — Buy

Johcm International Select Fund — None — Buy (add'l)

JPMorgan Global Bond Opportunities — Dividend — Buy

JPMorgan Global Bond Opportunities — None — Buy (add'l)

JPMorgan Global Bond Opportunities — None — Buy (add'l)

New Perspective Fund — None — Buy

New Perspective Fund — None — Sold

PIMCO Investment Grade Credit Bond Fund — Dividend — Buy

PIMCO Investment Grade Credit Bond Fund — None — Buy (add'l)

PIMCO Investment Grade Credit Bond Fund — None — Buy (add'l)

Lehman Bond Escrow 01/18/12 — Dividend

Griffith, IN Bond 7/5/2020 — Interest

New York, NY Bond 11/1/2020 — Interest

Decatur, GA Bond 05/01/19 — Interest — Matured

U of OK Bond 7/1/19 — Interest — Matured

Tucson, AZ Bond 1/1/19 — None — Matured

Alabama St Bond 9/1/19 — Interest — Matured

Rockdale, GA Bond 7/1/19 — Interest — Matured

State Bank India CD 10/17/19 — Interest — Matured

Jackson, MS Bond 05/1/21 — Interest

Pembroke Pines, FL Bond 10/1/22 — Interest

HSBC Bond 4/5/21 — Interest

Kane McHenry, IL Bond 12/1/21 — None

Kentucky St Bond 4/1/19 — Interest — Matured

Los Angeles, Co CA Bond 09/1/21 — Interest

Michigan Hsg Auth Bond 10/1/21 — Interest

MTA of NY Bond 11/15/21 — Interest

Pennsylvania St Bond 7/15/21, callable 7/15/20 — Interest

Georgia St Bond 01/01/21 — Interest

Iowa Student, IA Bond 12/1/22 — Interest

Merrill Lynch Trust (FBO #1) Y

MFS Intl New Disc A Fund (FBO#1) Y

T Price Media & Tele Fund (FBO#1) Y

Alerian Infrastructure Fund (FBO#1) Y

Magellan Midstream Partners (FBO#1) Y

SPDR Utilites ETF (FBO#1)Y

Avalon Bay Comm Inc (FBO#1) Y

MI Ed Savgs Plan Moderate Age-Based 18 FBO #2No Control — None — Distributed (part)

MI Ed Savgs Plan Moderate Age-Based 18 FBO #2No Control — None — Distributed (part)

MI Ed Savgs Plan Moderate Age-Based 18 FBO #2No Control — None — Distributed (part)

MI Ed Savings Plan 100% Equity Opt (FBO#2)No control — None — Distributed

Georgia State Bond 10/1/2020(FBO#1) Y

Connecticut State Bond 11/1/2020(FBO#1) Y

Kansas St Bond 7/1/19 (FBO #1) Y

Pennsylvania St Bond 06/1/19 (FBO #1) Y

UNC Chapel Hill Bond 8/1/19 (FBO #1) Y

Washington St Bond 7/1/19 (FBO #1) Y

Alamo, TX Bond 2/1/21 (FBO #1) Y

Kern Co, CA Bond 8/15/21 (FBO #1) Y

Oregon St Bond 6/30/21 (FBO #1) Y

Cass Co, MO Bond 05/1/20 (FBO #1) Y

American Century Intl Opp Fund (FBO #1) Y

Matthews Pacific Tiger Fund (FBO#1) Y

AER Cap Holdings (FBO#1) Y

Invesco Pharma ETF (FBO #1) Y

Ross Stores Inc (FBO #1) Y

Shire PLC (FBO#1) Y

Taiwan Semiconductor (FBO#1) Y

Fidelity Slct Portfolio Fund (FBO #1) Y

Oakmark Intl I Fund (FBO #1) Y

T Rowe Price New Horizons Fund (FBO #1) Y

Wasatch Intl Growth Fund (FBO #1) Y

Apple Inc (FBO #1) Y

Fidelity Cycl Indust Fund (FBO #1) Y

Vanguard S&P 500 ETF (FBO #1) Y

Invesco Ppty & Cas Ins ETF (FBO #1) Y

Invesco Sm Cap Health ETF (FBO #1) Y

Sherwin Williams Co stock (FBO #1) Y

Vanguard REIT Index ETF (FBO #1) Y

Invesco S&P Small Cap Util (FBO #1) Y

FedEx Corp (FBO #1) Y

Invesco QQQ Trust ETF (FBO #1) Y

iShares Floating Bond ETF (FBO #1) Y

Chemical Bank Savings (FBO#2) — None

TD Ameritrade Trust (FBO #2) (Y)

Chemical Bank Trust (H) (FBO #2) — Interest

Ross Stores Inc (FBO#2) — Dividend

MFS Intl New Disc A Fund (FBO#2) — None — Sold

T Price Media & Tele Fund (FBO#2) — Dividend

AER Cap Holdings(FBO#2) — None — Sold

Alerian Infrastructure Fund (FBO#2) — Distribution — Sold

Invesco QQQ ETF (FBO #2) — Dividend

American Century Intl Opp Fund (FBO #2) — None — Sold

Wasatch Intl Growth Fund (FBO #2) — Distribution

Apple Inc (FBO #2) — Dividend

Vanguard S&P 500 ETF (FBO #2) — Dividend

Invesco Ppty & Cas Ins ETF (FBO #2) — Dividend

Invesco Sm Cap Health ETF (FBO #2) — None

Fidelity Cycl Indust Fund (FBO #2) — None — Sold

Sherwin Williams Co stock (FBO #2) — Dividend

Invesco S&P Small Cap ETF (FBO #2) — Dividend — Sold

SPDR Utilities ETF (FBO #2) — Dividend

FMI International (FBO #2) — Dividend

Taiwan Semiconductor (FBO #2) — Dividend

FedEx Corp (FBO #2) — Dividend

Magna Intl stock (FBO #2) — Dividend — Sold

Carillon Eagle Mid Cap Growth Fund (FBO #2) — Distribution

Fidelity Select Port Fund (FBO #2) — Distribution

RMB Financial Services Fund (FBO #2) — None — Sold

iShares Core S&P Small Cap ETF (FBO #2) — Dividend

Vanguard Health Care Investors Fund (FBO #2) — Dividend — Sold

Vanguard Consumer Dis ETF (FBO #2) — Dividend

AMG TimesSquare Intl Small Cap Fund (FBO #2) — None — Sold

Chevron Corp stock (FBO #2) — Dividend — Buy

CSX stock (FBO #2) — Dividend — Buy

Enterprise Products Partners stock (FBO #2) — Dividend — Buy

United Technologies stock (FBO #2) — Distribution — Buy

BlackRock Health Science Opportunities Fund (FBO #2) — Dividend — Buy

T Rowe Price Health Sciences Fund (FBO #2) — Dividend — Buy

Vanguard Info Technology Index Fund (FBO #2) — Dividend — Buy

Vanguard Small Cap Index Fund (FBO #2) — Dividend — Buy

Invesco Oppenheimer Intl Small Mid Co Fund (FBO #2) — Dividend — Buy

Tweedy Brown Global Value Fund (FBO #2) — Dividend — Buy

Vanguard International Growth Fund (FBO #2) — Dividend — Buy

iShares DJ US Industrials Sec ETF (FBO #2) — Dividend — Buy

SPDR S&P Dividend ETF (FBO #2) — Dividend — Buy

Vanguard Consumer Staples (FBO #2) — Dividend — Buy

Vanguard Financials ETF (FBO #2) — Dividend — Buy

Vanguard Utilities ETF (FBO #2) — Dividend — Buy

Kentucky State Bond 1/1/2020 (FBO #2) — Interest — Redeemed

Gooding Co, ID Bond 9/15/19 (FBO #2) — Interest — Matured

Morgantown, WV Bond 12/1/19 (FBO #2) — Interest — Matured

New York, NY Bond 3/1/19 (FBO #2) — Interest — Matured

Memphis, TN Bond 11/1/21 (FBO #2) — Interest

Dallas, TX Bond 2/15/20 (FBO #2) — Interest

Washington, PA Bond 9/1/21 (FBO #2) — Interest

Atlanta, GABond 01/01/22 (FBO #2) — Interest

Colorado HSG Bond 05/01/23 (FBO #2) — Interest

Maine Muni Bond 09/01/21 (FBO #2) — Interest

Oakland, CA Bond 12/15/22 (FBO #2) — None

Missouri St Bond 10/01/20 (FBO #2) — Interest

S Carolina St Bond 12/01/22 (FBO #2) — Interest — Redeemed (part)

Elkhart IN Comty Schools Bond 7/20/23 (FBO #2) — Interest

Chemical Bank Thomas Ludington Cust AGY (H) — Interest — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Chemical Bank Thomas Ludington Cust AGY (H) — None — Distributed (part)

Apple Inc — Dividend

Bristol-Myers Squibb Co — Dividend

Celgene Corp Com — None — Merged (with line 243)

Conocophillips — Dividend

Energizer Hldgs Inc — Dividend — Sold

Exxon Mobil Corp — Dividend

Intel Corp — Dividend

Lowes — Dividend

Boeing Co — Dividend

Walgreens Boots Alliance — Dividend

Aflac, Inc — Dividend

Aetna US Healthcare Inc (Y)

CVS Health Corp stock — Dividend — Sold

Boston Properties Inc — Dividend

Clorox Co — Dividend

Invesco QQQ Trust — Dividend

Johnson & Johnson — Dividend

Microsoft Corp — Dividend

Nextera Energy Inc — Dividend

Oppenheimer Intl Growth Fund — None — Sold

Pepsi Co — Dividend

Phillips 66 — Dividend

Prudential Financial — Dividend

SPDR Gold Shares ETF — None

Deere & Co — Dividend

Disney — Dividend

Fastenal Co Com — Dividend

Principal Mid Cap Blend Fund — Dividend

Union Pac Corp — Dividend

T Rowe Price New Horizons Fund — Distribution

Vanguard Inst Index Fund — Dividend

JP Morgan Chase stock — Dividend

Vanguard Strategic Small Cap Fund — Dividend

Amazon Inc stock — None

McDonalds stock — Dividend

AbbVie Inc stock — Dividend

KLA-Tencor Corp stock — Dividend

Exelon Corp stock — Dividend

Vanguard Financials ETF — Dividend

Ross Stores, Inc stock — Dividend

Taiwan Semiconductor stock — Dividend

Auto Zone stock — None

Extra Space Storage stock — Dividend

Wasatch Int Growth Fund — None — Sold

Invesco Property & Casualty Ins ETF — Dividend

RMB Financial Services Fund — None — Sold

John Hancock Intl Growth Fund — Dividend — Buy

Vanguard Total Intl Stock Index Fund — Dividend — Buy

iShares DJ US Fin Sec ETF — Dividend — Buy

Rockdale Co, GA Bond 7/1/19 — Interest — Matured

UNC Chapel Hill Bond 8/1/19 — None — Matured

Purdue University Bond 7/1/31, Pre- refunded 7/1/19 — Interest — Redeemed

South Carolina St Public Util Bond 12/1/23 — Interest

Burien, WA Bond 12/1/2020 — Interest

Hempstead, NY Bond 7/15/2020 — Interest

Oakland, CA Bond 12/15/21 — None

San Mateo, CA Bond 8/1/21 — Interest

American Express CD 09/06/22 — Interest

Metro, NY Transit Bond 11/15/22 — Interest

Pembroke Pines, FL Bond 10/1/22 — Interest

Hisperia, CA Bond 2/1/23 — Interest

Silver City, NM Bond 12/1/22 — Interest

Chemical Bank Trust AGY (H) — Interest — Distributed (part)

Chemical Bank Trust AGY (H) — None — Distributed (part)

Chemical Bank Trust AGY (H) — None — Distributed (part)

Matthews Pacific Tiger Fund — Dividend

FMI International Fund — Dividend

Fidelity Select Portfolio Fund — Dividend

Magna Intl stock — Dividend — Sold

Delaware Emerging Markets Fund — Dividend — Buy

Inv Opp Developing Markets Fund — Dividend — Buy

Vanguard Dev Market Index — Dividend — Buy

Vanguard Small Cap Index — Dividend — Buy

Boston Properties stock — Distribution — Buy

Emerson Elec Co stock — Dividend — Buy

CSX Corp stock — Dividend — Buy

Travelers Companies stock — Dividend — Buy

V.F. Corp stock — Dividend — Buy

Chevron Corp stock — Dividend — Buy

Cisco Systems stock — Dividend — Buy

Analog Devices Inc stock — Dividend — Buy

Comerica Inc stock — Dividend — Buy

Comerica Inc stock — None — Sold

Nike Inc stock — Dividend — Buy

Salesforce.com stock — None — Buy

Comcast Corp stock — Dividend — Buy

Becton Dickinson stock — Dividend — Buy

Broadcom Inc stock — Dividend — Buy

Abbott Labs stock — Dividend — Buy

AT&T Inc stock — None — Buy

Royal Dutch Shell stock — Dividend — Buy

Alliant Corp stock — Dividend — Buy

Vanguard Comm Service ETF — Dividend — Buy

Clark Cnty Nev Arpt Bond 7/1/20 — Interest

Fenton, MI Bond 5/1/2022 — Interest

Fidelity Inter Muni Inc Fund #036 — Dividend

Fidelity MI Muni Inc Fund #081 — Dividend

Illinois ST Agm Bond 1/1/21 — Interest

Manistique,MI Bond 5/1/2020 — Interest

Bangor Mich Public Bond School 5/1/19 — Interest — Matured

Green Oak Twp Mich Bond 11/1/19 — Interest — Matured

Green Oak Twp Mich Bond 11/1/21 — Interest — Redeemed

Rapid River Mich Public Schools Bond 5/1/2020 — Interest — Redeemed (part)

Waterford Mich School Dist Bond 5/1/19 — Interest — Matured

Waterford Mich School Dist Bond 5/1/2022 — Interest

White Cloud Mich Public Schools Bond 5/1/2020 — Interest

Houghton-Portage MI Bond 5/1/23 — Interest

Wyoming, MI Bond 5/1/20 — Interest

Petosky, MI Bond 4/1/23 — Interest

Lansing, MI Board Water Bond 7/1/20 — Interest

Saginaw Valley MI Bond 7/1/19 — Interest — Matured

Niles, MI Community Schools Bond 5/1/22 — Interest

Grand Blanc, MI Community Bond 11/1/21 — Interest

Western MI Univ Bond 11/15/19 — Interest — Matured

Southwest, TX Higher Ed Auth Bond 10/1/23 — Interest

Oregon St Bd of Edu Bond 6/30/22 — None

Lawrence Co, PA Bond 11/15/23 — Interest

Southern Methodist Uni Bond 10/1/23 (Y)

Newark, NJ Bond 4/1/2020 — Interest

Goldman Sachs CD 12/10/19 — Interest — Matured

State Bank of India CD 10/17/19 — Interest — Matured

Salmon River, NY Bond 6/15/20 — Interest

Florida St Bond 7/1/21 — Interest

Jackson, MS Bond 5/1/21 — Interest

Los Angeles, CA Bond 11/1/21 — Interest

Oneida Co, NY Bond 08/1/22 — Interest

Passaic Co NJ Bond 4/1/21 — Interest

Pembroke Pines, FL Bond 10/1/22 — Interest

Chemical Bank Savings — Int./Div.

Fidelity Bene IRA (H) — Interest — Distributed (part)

Doubleline Total Return Bond Fund — Dividend — Buy

Doubleline Total Return Bond Fund — None — Sold (part)

Fidelity Bene Roth IRA (H) — Interest — Distributed (part)

EQT Midstream Partners stock — Dividend — Sold

FedEx Corp stock — None — Sold

Oregon State Bond 1/1/19 — Interest — Matured

New York, NY Bond 11/1/21 — Interest — Sold

Janus Henderson Global Income Fund — Dividend — Buy

Janus Henderson Global Income Fund — Distribution — Buy (add'l)

Janus Henderson Global Income Fund — None — Sold (part)

Fidelity IRA #2 — None — Distributed (part)

Fidelity IRA Roth #2 (H) — Interest

Home Depot stock — None — Sold

American Tower Corp stock — Dividend — Sold

Invesco S&P Small Cap Util ETF — Sold

Universal Health Services stock — None — Sold

Jackson, MS Bond 5/1/21 — Sold

Iowa Student, IA Bond 12/1/22 — Interest — Sold

Connecticut State Bond 12/1/2020 — Interest — Sold

Cook Co, IL Bond 12/1/24 callable 12/1/19 — Interest — Sold

Nashville, Co TN Bond 7/1/21 — Interest — Sold

Connecticut St Bond 11/1/20 — Interest — Sold

Fullerton, CA Bond 09/01/20 — Interest — Sold

Elkhart, IN Sch Dist Bond 7/20/23 — None — Sold

JohnCM Intl Select Fund — Dividend — Buy

JohnCM Intl Select Fund — None — Buy (add'l)

JP Morgan Europe Dynamic Fund — Dividend — Buy

JP Morgan Europe Dynamic Fund — Buy (add'l)

PIMCO RAE Plus Small Fund — Dividend — Buy

PIMCO RAE Plus Small Fund — None — Buy (add'l)

AQR Global Equity Fund — Dividend — Buy

DFA Intl Value Fund — Dividend — Buy

DFA US Large Cap Growth Fund — Dividend — Buy

DFA US Large Cap Growth Fund — Distribution — Buy (add'l)

DFA US Large Cap Value Fund — Dividend — Buy

New Perspective Fund — Dividend — Buy

Secretary, R. M. Gerstacker Foundation

Trustee, Albion College

President & Director, Ludington Family Foundation

Advisory Trustee, John Ludington Beneficial Trust

Income — 2019 — Michigan Judges Retirement Services — $38,807.00

Income — 2019 — Michigan County Employees Pension Fund — $6,296.00

1. Lehman Brothers Bond Escrow (Line 102) is still held. Some principle has been returned, with the possibility of future repayment of principle.

2. Line 3 & 166 - TDAM accounts were closed at the end of all transfers in December 2018 and should have been reflected in the 2018 report.

3. Lines 15-24 - All State of MI 401k & 457 investments were sold on 1/10/19. All proceeds were deposited into Fidelity IRA Rollover #1 (Line 52). Investment

gain/loss info was not available on these transactions.

4. Lines 122-128 & Lines 132-164 / Part I. Positions Line 4 -- Trust has no reportable assests.

5. Line 367 - Southern Meth Uni Bond 10/1/23 is the same investment as Southwest TX Higher Edu Bond 10/1/23 (Line 365) and was listed twice during the

conversion to new custodian in 2018 report.

6. Line 253 - Aetna merged with CVS on November 28, 2018. Line 254 - CVS was incorrectly reported as a buy on November 28, 2018. This stock was part of

the merger.