Mosby Lincoln L.C. (the “Firm”) was originally founded as Mosby Lincoln Capital Management, L.P. in 1990 by Edward M Lincoln. Mosby Lincoln Capital Management, LP was converted to Mosby Lincoln L.C. on December 31, 1995. Edward M Lincoln is still the principal owner and manager of the Firm. The Firm managed approximately $354 million in assets as of December 31, 2018, all on a discretionary basis. The Firm determines that it can meet the client’s needs prior to accepting the account. Those funds are mainly invested in mutual funds, common stocks and their related options, United States government securities, corporate debt and bank certificates of deposit. Various money market funds are used for cash management purposes. please register to get more info

For its investment advisory services, the Firm typically charges a fee based on the client’s account value at the following annual rates: Equity Investments Fixed Income Investments 0.25% on 1st $50 million 0.20% on 1st $50 million 0.23% on 2nd $50 million 0.18% on 2nd $50 million 0.20% on assets over $100 million 0.16% on assets over $100 million In addition to the advisory fees paid directly to Mosby Lincoln L.C., mutual funds, money market funds, and exchange-traded funds in which client assets may be invested charge their own fees and expenses. These fees and expenses are reflected as a reduction of income received by the client from these investments and/or a reduction in the value of the investment. Clients may also incur brokerage and transaction costs. Please see Item 12 of this brochure for further discussion of brokerage firm options. Mutual funds recommended by the Firm are generally no-load funds and, therefore, do not have any commission expense associated with transactions. Minimal transaction costs charged by some brokerage firms for the purchase of mutual funds may be incurred. please register to get more info

The Firm does not charge any clients using a fee structure based on the performance of the assets under management. please register to get more info

The Firm provides investment supervisory services to various types of clients including individuals, trusts, estates, charitable organizations and business entities. please register to get more info

Method of Analysis and Investment Strategies Mosby Lincoln L.C. invests client assets primarily in mutual funds, though may also invest client assets in exchange-listed securities, fixed-income securities, securities traded over-the-counter, foreign issues, certificates of deposit, United States government securities and options on securities. Mosby Lincoln L.C. practices fundamental analysis using a wide range of sources of information including the general and financial media and research material provided by others. Additionally, Mosby Lincoln L.C. may utilize annual reports, prospectuses and filings with the Securities and Exchange Commission, as well as material provided by companies, financial intermediaries and mutual fund companies. The investment strategies used include long-term and short-term purchases, trading, and short sales. Investment strategies may also use option writing, including covered options, uncovered options and/or spreading strategies. Risks Investing in securities involves a substantial degree of risk. Below is a summary of material risks relating to the primary investment strategies and methods of analysis described above, and to the general types of securities typically purchased for client accounts. All investing involves risk of loss that clients should be prepared to bear, including the risk that the entire amount invested will be lost. General Economic and Market Conditions: The value of investments held in a client’s account may fall or fail to rise over extended periods of time for a variety of reasons, including general economic and market conditions, changing market perceptions (including perceptions about monetary policy, interest rates, or the risk of default), national and international political circumstances (including wars and government intervention in financial markets), and factors related to a specific industry, issuer or sector. These factors may affect the level of volatility of security prices and the liquidity and value of investments held by a client’s portfolio. Management Risk: The Firm’s judgment about the attractiveness, growth prospects and value of a particular asset, class of assets or individual security could prove to be incorrect. There is no guarantee that the securities or investment strategies recommended or used by the Firm to manage client accounts will perform as anticipated. Allocation Risk: Although the Firm typically seeks to allocate a client’s assets among different asset categories and strategies to limit risk exposure, a client’s portfolio could still at times have significant exposure to an asset category or strategy that performs poorly relative to other asset categories or strategies. To the extent a client’s account is invested in asset classes or strategies that underperform the general stock market, the account will likely underperform relative to a portfolio invested primarily in the general stock market. Investment Companies: The Firm recommends and typically invests client assets in open-end mutual funds. Careful consideration should be given to the investment objectives, risks, charges and expenses associated with an investment in investment companies, including mutual funds and ETFs, before investing. Client accounts invested in investment companies will indirectly bear the fees and expenses payable directly by the investment company. Therefore, the client will incur fees associated with the management of the company, resulting in an increase in fees payable by the investor. Investments in investment companies are subject to the same risks as the underlying securities (including those described below), in addition to management risk. Investment company returns fluctuate and are subject to market volatility. In addition, the value of a client’s investment in an investment company will depend on the skill of the investment company’s adviser, and will be subject to risks arising from the investment practices of the investment company. ETFs are subject to additional risks, including the risk that the market price of the shares of the ETF are above or below its net asset value. Equity Investments:
• Common Stocks. The value of a company’s common stock generally increases or decreases in value based on factors directly relating to that company, such as demand for the company’s products or decisions by management. The value of a company’s common stock is also affected by other factors not directly affecting the company, such as general industry or market conditions.
• Growth Stocks. The stocks of companies believed to be fast-growing can trade at a higher multiple of earnings-per-share than other stocks. If the Firm’s perception of a company’s growth potential is incorrect, the value of the company’s stock may fall or may never approach the value placed on it. Growth stocks may fluctuate in value more than other investments in reaction to changing market conditions.
• Value Stocks. Companies that are believed to be undervalued may be subject to special risks or may have suffered adverse developments that have caused their stocks to fall out of favor. If the Firm’s perception of a company’s prospects is wrong, or if other investors do not agree that a company’s stock is undervalued, the value of the stock may fall or not perform as expected.
• Preferred Stocks. Market prices of preferred stocks are generally subject to changes in interest rates and are more sensitive to changes in an issuer’s creditworthiness than are prices of debt securities. Unlike interest payments on debt securities, dividend payments on preferred stock generally must be declared by the issuer’s board of directors. An issuer’s board of directors is typically under no obligation to pay a dividend (even if dividends have accrued) and may suspend the payment of dividends at any time. Preferred stock shareholders may suffer a substantial loss in value if dividends are not paid.
• Small- and Mid-Cap Companies. Stocks of small- and mid-cap companies are historically more volatile than stocks of larger companies. Small- and mid-cap companies in many cases lack the managerial, financial or other resources necessary to implement their business plans or succeed in the face of competition. Many of these companies are young and have a limited track record. Thus, small- and mid- cap companies are more vulnerable to adverse business or market developments than larger companies. Their stock generally also trades less frequently and in more limited volume than those of larger companies, which may make it difficult to sell a small- or mid-cap stock on favorable terms. Fixed Income Investments:
• Credit Risk. The issuer of a fixed-income security may be unable or unwilling to make interest and/or principal payments when due. Generally, the lower the credit rating of a security, the greater the risk that the issuer will default on its obligation. If this occurs, or is perceived as likely to occur, the value of the fixed-income security may fall significantly.
• Issuer Risk. The value of a fixed-income security will fluctuate due to a number of factors relating to the issuer or its industry or economic sector. This risk is heightened for lower rated fixed-income securities.
• Interest Rate Risk. As nominal interest rates rise, the value of fixed income securities is likely to decrease. A nominal interest rate is the sum of real interest rates and an expected inflation rate.
• Municipal Securities Risk. The value of a municipal security will fluctuate over time and can be affected by adverse political, legislative and tax law changes, as well as by financial developments that affect the municipal issuers. Liquidity in the municipal bond market (the ability to buy and sell bonds readily) is subject to change based on a variety of factors, including, but not limited to, overall economic conditions and credit tightening. During times of reduced market liquidity, a client’s portfolio or an investment company may not be able to sell bonds readily at prices reflecting the values at which the bonds are carried. In addition, in order to be tax-exempt, municipal securities must meet certain legal requirements. Failure to meet such requirements could result in either the interest received or distributed to clients being deemed taxable. Changes or proposed changes in federal tax laws may also cause the prices of municipal securities to fluctuate (up or down).
• Government Securities Risk. Securities of U.S. government sponsored entities, such as Freddie Mac or Fannie Mae, are neither issued nor guaranteed by the U.S. government. It is possible that the U.S. government would not provide financial support to its agencies or instrumentalities if it is not required to do so by law. If a U.S. government agency or instrumentality in which a client’s portfolio or investment company invests defaults and the U.S. government does not stand behind the obligation, the value and yield of the security could fall.

Foreign Securities: Investment companies in which client assets are invested may invest partially or primarily in foreign securities. Certain client accounts may also be invested in foreign securities directly. Investment in foreign securities involves special risks. Foreign issuers and markets are in many cases not subject to the same degree of regulation and accounting discipline as U.S. issuers and markets. In addition to credit and market risk, investments in foreign securities involve sovereign risk, which includes fluctuations in foreign exchange rates, future political and economic developments, and the possible imposition of exchange controls or other foreign governmental laws or restrictions. In addition, with respect to certain countries, there is the possibility of expropriation of assets, confiscatory taxation, political or social instability or diplomatic developments that could adversely affect investments in those countries. There is often less publicly-available information about a foreign company than about a U.S. company. Securities of foreign companies can be less liquid and their prices more volatile than securities of comparable U.S. companies. Dividend and interest income from foreign securities will generally be subject to withholding taxes by the country in which the issuer is located and the client (or investment company) should anticipate difficulties in attempting to recover any such funds. These risks can be greater in less developed countries, which are sometimes referred to as “emerging markets.” please register to get more info

Registered investment advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to your evaluation of the Firm or the integrity of the Firm’s management. The Firm has no information applicable to this Item. please register to get more info

Edward M. Lincoln is Chairman and Chief Executive Officer and owns 90% of Heritage Group, L.C. Heritage Group, L.C. provides administrative, financial and tax accounting services. Among Heritage Group, L.C. clients are entities for which Mosby Lincoln L.C. is the investment advisor, both directly and indirectly. At December 31, 1995, Mosby Lincoln L.C. became the managing partner of a general partnership, Falcon Fund. Mosby Lincoln L.C. provides the Fund with administrative and investment management services for a fee based on a percentage of assets, and also acts as the representative of the Fund in soliciting investment in the fund. Falcon Fund invests primarily in mutual funds, publicly traded equity securities, equity options, and fixed income securities. At July 1, 2013, Mosby Lincoln L.C. became the managing partner of general partnerships, Gar76 and Net Venture (collectively, the “Funds”). Mosby Lincoln L.C. provides the Funds with administrative and investment management services for a fee based on a percentage of assets, and therefore, acts as the representative of the Fund in soliciting investment in the fund. Gar76 invests primarily in mutual fund securities. Net Venture invests primarily in fixed income securities. Participation in Gar76, Net Venture and Falcon Fund is restricted to descendants of Olive W. Garvey, their spouses and entities owned or controlled solely by such persons, or solely for the benefit of such persons. please register to get more info

Confidentiality of Information It is the policy of Mosby Lincoln L.C. to ensure that the operations, activities, and business affairs of the Firm and our clients are kept confidential. Confidential or proprietary information about Mosby Lincoln or its clients acquired during the course of employment with Mosby Lincoln L.C. is to be handled in strict confidence and not to be discussed with outsiders. Internal discussions should be limited to those necessary for business purposes. Advance Trading

The Firm and its related persons are strictly prohibited from advance trading based on knowledge of the Firm’s or its clients’ intentions.

From time to time, Mosby Lincoln L.C. and/or its related persons may hold, buy or sell securities for itself that it also holds, buys or sells in managed accounts. The Firm and its employees will exercise discretion to ensure that their personal securities transactions and holdings do not adversely impact potential transactions by the managed accounts either in time, price, quantity or position as determined by the size of the transaction or holding compared to the size of the clients’ holdings, and in relation to the daily trading volume and the total market capitalization of the security. Participation of Interest in Client Transactions Mosby Lincoln L.C., as the managing partner of Falcon Fund, Gar76 and Net Venture, offers participation in the Funds to selected clients and receives an advisory fee based on a percentage of assets in those funds. Employees of Mosby Lincoln L.C. are required to keep information gained in the course of their employment confidential. Outside Investments Mosby Lincoln L.C. and all persons associated with the Firm are required to abstain from making investments for any entity based on the use of material nonpublic information. Any supervised person associated with Mosby Lincoln L.C. who believes he or she is in possession of material nonpublic information is required to inform the Firm’s President of that fact immediately, and to otherwise keep that information strictly confidential. No person associated with Mosby Lincoln L.C. is permitted to divulge any information to any outside party concerning information received by the Firm or trading activities undertaken by the Firm, any affiliated company, or any of its clients. Officers of Mosby Lincoln L.C. are also required to refrain from investing in any initial public offerings or private placements without prior approval from the President of Mosby Lincoln L.C. Investment Reporting All access persons (as defined in SEC regulations), including all officers of Mosby Lincoln L.C., are required to furnish to the chief compliance officer of the Firm a quarterly transaction report on a form provided by Mosby Lincoln L.C. for all transactions involving a reportable security in which the access person had or acquired any direct or beneficial ownership. All access persons are also required to submit a listing of holdings annually. For this purpose, "reportable security" does not include direct obligations of the United States, bank deposits, money market funds, or mutual funds. This report is required to be submitted not more than 30 days after each calendar quarter end. Alternatively, access persons may submit copies of the trade confirmations or broker statements covering the transactions. please register to get more info

Accounts with brokerage firms are established based on the financial stability of the firm and the quality of service provided by the firm and account executive including accurate and effective order execution, accurate and timely account information and custodial capabilities. Commission rates are negotiated by Mosby Lincoln L.C. for the clients’ accounts. The reasonableness of commission rates charged by each brokerage firm is determined by analysis of the dollar amount per share and percentage amount per share. Mosby Lincoln L.C. may recommend that clients establish accounts with various brokerage firms. These recommendations will be based on our experience with the service provided by those firms. The Firm does not direct clients to any brokerages in return for any specific research, products, or services provided for the Firm’s benefit to the exclusion of the clients’ benefit. Some brokerage firms provide research in the form of generic newsletters. To the extent that the information is useful in identifying investment opportunities, those brokers may participate in additional transactions. The availability of research is not necessarily a factor in establishing client accounts at a brokerage firm. please register to get more info

Portfolio reviews and investment allocations are conducted not less than monthly. Valuation reviews are conducted monthly. Reviews are conducted by Edward M. Lincoln, portfolio manager and Herbert H. Southworth, assistant portfolio manager. please register to get more info

The Firm does not receive any economic benefit from anyone who is not a client for providing investment advice or advisory services to clients. In addition, the Firm does not compensate any third-party to solicit clients for the Firm. please register to get more info

Clients have ongoing access to view holdings at any time. Clients should receive at least quarterly reminders to access statements from the broker dealer, bank or other qualified custodian that holds and maintains client’s investment assets. Mosby Lincoln urges clients to carefully review such statements and compare such official custodial records to the account statements that we may provide to you. Our statements may vary from custodial statements based on accounting procedures, reporting dates, or valuation methodologies of certain securities. please register to get more info

The majority of assets managed by Mosby Lincoln L.C. are accepted on a discretionary basis. Prior to accepting the account for management, the Firm will consult with prospective clients concerning their investment parameters regarding asset allocation, investment concentration, and prohibited transactions. please register to get more info

The Firm typically has authority to vote proxies related to securities held in client accounts. Because the Firm invests client assets primarily in mutual funds, which are not required to hold annual meetings of shareholders and rarely seek proxy votes, the Firm has only limited opportunities to vote proxies with respect to client accounts. The Firm’s policy is to vote proxies on securities held by a client account in a manner that seeks to maximize the account’s long-term economic interests, although the Firm may consider both the short-term and long-term implications of each proposal in determining its vote. In voting client account securities, the Firm will typically follow the following guidelines: (a) for management proposals on routine matters, the Firm will typically vote in accordance with the issuer’s management, unless the Firm believes that such recommendation is not in the best interests of the client’s account; (b) for non-routine matters proposed by management, the Firm will typically vote on a case-by-case basis, in each case voting in a manner that the Firm believes is in the best interest of the client account; and (c) for shareholder proposals, the Firm will typically vote in accordance with the issuer’s management, unless the Firm believes that such recommendation is not in the best interests of the client account. As part of the Firm’s proxy voting policy, the Firm has the right to abstain from voting a proxy in certain circumstances, including if it believes that (i) the cost of voting the proxy exceeds the expected benefit to the applicable client’s account, or (ii) abstaining from a particular vote is otherwise in the client’s best interests. Clients may obtain a copy of the Firm’s proxy voting policies and procedures, and information about how the Firm voted proxies with respect to the client’s securities (if any), by contacting the Firm at the phone number appearing on the cover of this brochure. Due to the nature of the Firm’s business and its ownership, the Firm believes it is unlikely that any conflicts of interest will arise in voting client account proxies. Any material conflict of interest identified by the Firm with respect to a particular proxy vote will be addressed in a manner the Firm believes is fair and reasonable, which may include voting the proxy in accordance with the recommendation of an independent third-party. Clients have the right to direct that their proxies be voted in a specific manner by providing a written request to the Firm. If timely received, and to the extent practicable, the Firm will vote a client’s proxies in accordance with the clients’ written request, even if the vote would be inconsistent with the Firm’s proxy voting policies or the votes the Firm casts on behalf of other clients. please register to get more info

Registered investment advisers are required in this Item to provide you with certain financial information or disclosures about the Firm’s financial condition. The Firm has no financial commitment that impairs its ability to meet contractual and fiduciary commitments to clients, and has not been the subject of a bankruptcy proceeding. Edward M. Lincoln Mosby Lincoln L.C. 7309 E. 21st, Suite 120 Wichita, KS 67206 (316) 261-5301 March 25, 2018 This Brochure Supplement provides information about Edward M. Lincoln that supplements the Mosby Lincoln L.C. Brochure. You should have received a copy of that Brochure. Please contact Herb Southworth at (316) 261- 5395 if you did not receive Mosby Lincoln L.C.’s Brochure or if you have any questions about the contents of this supplement. Additional information about Edward M. Lincoln, is also available on the SEC’s website at www.adviserinfo.sec.gov.
Educational Background and Business Experience
Edward M. Lincoln Born: 1953 BA in Business University of Nebraska Employed by Mosby Lincoln L.C. since 1990
Disciplinary Information
Not applicable.
Other Business Activities
Edward M. Lincoln is not involved in any other financial business activities.
Additional Compensation
Edward M. Lincoln does not receive any additional financial industry related compensation
Supervision
Investment decisions are made by Edward M. Lincoln. Herbert H Southworth is also a member of the investment committee. As part of that process, investments are evaluated for appropriateness in relationship to client guidelines where specified. If you have questions regarding investment decisions, please contact Edward M Lincoln at (316) 261-5366. Herbert H. Southworth Mosby Lincoln L.C. 7309 E. 21st, Suite 120 Wichita, KS 67206 (316) 261-5301 March 25, 2018 This Brochure Supplement provides information about Herbert H. Southworth that supplements the Mosby Lincoln L.C. Brochure. You should have received a copy of that Brochure. Please contact Herb Southworth at (316) 261-5395 if you did not receive Mosby Lincoln L.C.’s Brochure or if you have any questions about the contents of this supplement. Additional information about Edward M. Lincoln, is also available on the SEC’s website at www.adviserinfo.sec.gov.
Educational Background and Business Experience
Herbert H. Southworth Born: 1964 Masters of Professional Accountancy Wichita State University Employed by Mosby Lincoln L.C. since 1992
Disciplinary Information
Not applicable.
Other Business Activities
Herbert H. Southworth is not involved in any other financial business activities.
Additional Compensation
Herbert H. Southworth does not receive any additional financial industry related compensation
Supervision
Investment decisions are made by Edward M. Lincoln. Herbert H Southworth is also a member of the investment committee. As part of that process, investments are evaluated for appropriateness in relationship to client guidelines where specified. If you have questions regarding investment decisions, please contact Edward M Lincoln at (316) 261-5366. please register to get more info