9AT: PROFESSIONAL ADVISORY SERVICES INC

PROFESSIONAL ADVISORY SERVICES INC

PROFESSIONAL ADVISORY SERVICES INC

Adviser Profile

As of Date	03/27/2026
Registration	SEC, Approved, 10/11/1978
ADV Location	VERO BEACH, FL, United States
Contact Info	772 xxxxxxx
Websites

AUM^*	1,258,746,450 10%
of that, discretionary	1,258,746,450 10%
Number of Employees	13
of those in investment advisory functions	9 13%
Private Fund GAV^*	0
Avg Account Size	1,020,054 8%
% High Net Worth	40.51% 7%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pension and profit sharing plans
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

- Financial planning services
- Portfolio management for individuals and/or small businesses

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

1B 1B 899M 719M 539M 360M 180M

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker02079K107	Stock NameALPHABET, INC. CLASS C	$ Position$40,164	% Position5.00%	$ Change14.00%	# Change-8.00%
Stck Ticker023135106	Stock NameAMAZON	$ Position$34,551	% Position4.00%	$ Change8.00%	# Change-6.00%
Stck Ticker007903107	Stock NameADVANCED MICRO DEVICES	$ Position$29,665	% Position4.00%	$ Change32.00%	# Change-54.00%
Stck Ticker032095101	Stock NameAMPHENOL CORP	$ Position$31,906	% Position4.00%	$ Change	# Change
Stck TickerG0593M107	Stock NameASTRAZENECA PLC	$ Position$30,241	% Position4.00%	$ Change	# Change
Stck Ticker084670702	Stock NameBERKSHIRE HATHAWAY INC-B	$ Position$32,222	% Position4.00%	$ Change9.00%	# Change5.00%
Stck Ticker464287507	Stock NameISHARES TR S&P MID ETF	$ Position$30,024	% Position4.00%	$ Change16.00%	# Change1.00%
Stck Ticker594918104	Stock NameMICROSOFT	$ Position$34,556	% Position4.00%	$ Change2.00%	# Change1.00%
Stck Ticker883556102	Stock NameTHERMO FISHER SCIENTIFIC	$ Position$32,498	% Position4.00%	$ Change12.00%	# Change10.00%
Stck Ticker872540109	Stock NameTJX COMPANIES	$ Position$21,612	% Position3.00%	$ Change-3.00%	# Change3.00%

Brochure Summary

Overview

With a vision to create a better investment experience, Kenneth M. Ligon and Ronald J. Jaffe, M.D. co-founded Professional Advisory Services, Inc. (PASI) in 1977. Built on a foundation of integrity and personalized service, PASI has grown to become one of the largest independent money management firms in Florida with clients in 32 states and $1,144,075,256 under management as of 12/31/2023. All assets are managed on a discretionary basis with the investment committee determining the holdings in our core portfolio. Principal Owners: PASI remains a family-run business with the second generation at the helm continuing the traditions upon which the firm was built. The firm principals are David Alan Jaffe, M.D. (President) and Carol Ligon Bieber (Vice President, Secretary, Treasurer, and Chief Compliance Officer). Type of Advisory Service: PASI acts in a fiduciary capacity which mandates that client interests are placed ahead of adviser in all dealings. PASI has an investment committee/portfolio management team committed to helping our clients reach their financial goals by seeking out the most attractive

investments through independent research and a disciplined investment approach. Through personal discussions with our clients, we identify their goals and objectives based on each client's circumstances. PASI primarily invests client dollars in two asset classes – high quality stocks and investment grade corporate and (where appropriate) tax-free municipal bonds. The allocation of dollars to each asset class is tailored to the individual client’s risk tolerance and financial situation. The mix is modified only when dictated by a change in client circumstances or major economic shift. Please see Item 8: Investment Strategy, Methods of Analysis, and Risk of loss on page 6 of this brochure for further discussion of our investment style. On occasion, clients may make special requests for their own portfolio. Please see Item 16: Investment Discretion on page 12 for a discussion on this topic. Additionally, PASI publishes a quarterly newsletter which is sent to all clients. Recent issues can be found on our website www.pa-services.com.