Anchor Investment Management LLC

Item 5 – Fees and Compensation. Finally, the Brochure was updated to
                       describe investment models designed by Anchor that are available to clients to
                       be used as investment “sleeves” in a portfolio. More information can be found
                       in Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss.
    February 2026      Robert S. Norman became an Investment Associate at Anchor Investment
                       Management, LLC in January 2026, and in February 2026 registered as an
                       Investment Adviser Representative. Please see Exhibit A, Brochure
                       Supplement for more information on this material change.

Exhibit A

                                     Brochure Supplement

                                       Form ADV Part 2B

                                       Item 1 - Cover Page

                                 W. Patrick Dorn, Jr., CFA
                                         CRD# 4952860

                                                of

                             Anchor Investment Management, LLC

                                      3205 Devine Street
                                 Columbia, South Carolina 29205

                                         (803) 766-2100

                           www.AnchorInvestmentManagement.com

                                         March 19, 2026

This Brochure Supplement provides information about Pat Dorn, and supplements the Anchor
Investment Management, LLC (“Anchor”) Brochure. You should have received a copy of that
Brochure. Please contact us at (803) 766-2100 if you did not receive our Brochure, or if you have
any questions about the contents of this Supplement.

 Additional information about Pat is available on the SEC’s website at www.AdviserInfo.sec.gov.

Item 2 - Educational Background and Business Experience

W. Patrick Dorn, Jr. (year of birth 1939) is Principal and Founder of Anchor. A graduate of
Presbyterian College with a B.S. in Economics and Business Administration, he also graduated from
Northwestern Graduate Trust School at Northwestern University, Chicago, Illinois. In addition, Pat
holds the Chartered Financial Analyst® designation*.

Pat has been in the investment business for over fifty years. His tenure with Wachovia Bank
spanned thirty of those years, until he founded Anchor in 2000. In addition to his management
duties at Anchor, Pat is an Elder Emeritus at First Presbyterian Church in Columbia. He is a former
Chairman and board member of the South Carolina Forestry Association and is currently on the
Advisory Committee of the County Forester Board. He is also past President of the Richland County
Forestry Association.

Pat is the past President of the Trust division of the South Carolina Bankers' Association and past
President of the Executives' Association of Greater Columbia, where he was selected Executive of
the Year in 1997.

                                           Exhibit A-1

Pat and his wife have three children and seven grandchildren. In addition to family, his interests
include hunting and tree farming.

* The Chartered Financial Analyst® (“CFA®”) designation is a professional designation given by the
CFA Institute that measures the competence and integrity of financial analysts. The CFA Program is
a graduate-level self-study program that combines a broad-based curriculum of investment
principles with professional conduct requirements. Candidates are required to pass three levels of
examinations covering areas such as accounting, economics, ethics, money management and
security analysis. Before a candidate is eligible to become a CFA charterholder, he/she must meet
minimum experience requirements in the area of investment/financial practice. To enroll in the
program, a candidate must hold a bachelor’s degree.

Item 3 - Disciplinary Information

Advisers are required to disclose any material facts regarding certain legal or disciplinary events
that would be material to your evaluation of an adviser; however, Pat has no such disciplinary
information to report.

Item 4 - Other Business Activities

Pat is not engaged in any other business activities.

Item 5 - Additional Compensation

Pat has no other income or compensation to disclose.

Item 6 - Supervision

Margaret Ellen Pender, Chief Compliance Officer, is responsible for compliance oversight of Anchor.
She also participates as a team member in the investment and trading processes and may be
contacted at (803) 766-2103. Her contact information is on the cover page of this disclosure
document.

                                             Exhibit A-2

                                     Brochure Supplement

                                       Form ADV Part 2B

                                       Item 1 - Cover Page

                                   John H. Moorman, Jr.
                                         CRD# 1564791

                                                of

                             Anchor Investment Management, LLC

                                      3205 Devine Street
                                 Columbia, South Carolina 29205

                                         (803) 766-2100

                           www.AnchorInvestmentManagement.com

                                         March 19, 2026

This Brochure Supplement provides information about John Moorman, and supplements the
Anchor Investment Management, LLC (“Anchor”) Brochure. You should have received a copy of
that Brochure. Please contact us at (803) 766-2100 if you did not receive our Brochure, or if you
have any questions about the contents of this Supplement.

 Additional information about John is available on the SEC’s website at www.AdviserInfo.sec.gov.

Item 2 - Educational Background and Business Experience

John H. Moorman, Jr. (year of birth 1961) is a Principal of Anchor. John has worked in the
...

Item 7 - Types of Clients

We serve individuals, corporations, trusts, estates, charitable organizations and pension and profit
sharing plans. With some exceptions, the minimum portfolio value eligible for conventional
investment advisory services is $500,000. Minimum annual fees may apply. Under certain
circumstances and in our sole discretion, we may negotiate such minimums.